Fluor-Led Joint Venture Selected For I-35 NEX South Project In San Antonio; Fluor Expects To Recognize The ~$700M Contract In Q2 Of 2023
Portfolio Pulse from Happy Mohamed
Fluor Corporation (NYSE:FLR) announced that its joint venture, Lone Star Constructors, has been selected as the contractor for the Interstate 35 (I-35) Northeast Expansion (NEX) South Project in San Antonio, Texas. The contract, worth approximately $700 million, is expected to be recognized in Q2 of 2023. Construction is set to begin in 2024 and be completed in 2028.
July 31, 2023 | 9:02 pm
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POSITIVE IMPACT
Fluor Corporation's joint venture has secured a $700 million contract for a major infrastructure project in Texas. This is expected to positively impact Fluor's revenues from Q2 2023.
The news of Fluor's joint venture securing a major contract is directly relevant to the company and is likely to have a positive impact on its stock price in the short term. The contract is significant in size ($700 million) and will contribute to Fluor's revenues from Q2 2023. This could lead to increased investor confidence in the company's financial performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100